Sunday, 26 June 2016

PSO Levy to increase by 36%

The Energy Regulator is proposing to hike electricity bills with a 36% increase in the PSO Levy to pay for renewables (mainly wind energy) :

The levy for renewables has nearly doubled from €180 million to € 334 million to pay for extra wind turbines and to compensate for the low wholesale prices. The extra payments to peat are more than cancelled out by a clawback of payments to gas powered stations. So in fact, the PSO should be coming down rather than going up. Things can only get worse for consumers from here on in unless the new minister puts a cap on wind subsidies.